Hungary's MOL ranks 468th on global Fortune 500

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Hungary’s largest firm, MOL Nyrt., ranked number 468 on Fortune magazine's Global 500. MOL's total 2010 revenue of $20,798.6 million ranked it one position lower than American Fluor and one position higher than French Sodexo.

MOL previously made it to the list in 2009, when it recorded revenues of $20,644 million for the year 2008. However, it lost the spot in 2010 when MOL's revenues fell to around $16,626 million. The last company on the 2010 list, Japan’s Dai Nippon Printing, recorded a $17,053.4 revenue.

This year has not been easy for the company. MOL’s shares have been falling for three days in a row, heading for the lowest closing price in seven months. The drop comes following the government’s announcement that it will consider selling part of its stake in the refiner to keep budget revenue on target in 2012. The ongoing battle with the government of Croatia over INA’s shares has also hurt MOL this year.

The Fortune Global 500 list continues to be dominated by US-based companies, which took 133 places, followed by Japan with 68, and China with 61. Companies from India, Russia and Brazil are moving up the rankings. MOL was the only Hungary-based company to make the list.

Global 500 is once again led by US food store chain Wal-Mart with total revenues of $421,849 million, a 3.3% increase from previous year, followed by Royal Dutch Shell, $378,152 million, a 32.6% increase. A number of companies skyrocketed in their rankings. For example, Fannie Mae occupies 15th position, compared to 270th last year. Others stumbled. Danske Bank Group fell hard, it lost 218 positions and is now number 453.

Most firms at the top of the list managed to grow last year despite the bad economic climate, with only French AXA, General Electric and the Dutch ING Group recording a fall in revenues in the top 20.

Twelve Fortune Global 500 companies are run by women, the same number as last year.

 

 

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